Real Life Retirement™ Services

Taking Social Security early

Karin M., age 62
Bryn Athyn, Pennsylvania
Retired
Married, seven children between her and her husband

"We've become very economical. We don't need much to live happily."

Karin's Tips

Moving twice in six months, you learn you really can live without a lot of stuff.

Taking Social Security at age 62 means a smaller payout, but you receive your benefit over a longer period of time.

Highlights

Downsized to enable her husband to go back to school.

Living with less has taught her how to be more frugal.

Back to school, back to lean times.

"I stopped working in 2007 to move to Arizona to be closer to our kids. We sold our house in Pennsylvania, paid off debts and bought in Phoenix. Then my husband was accepted to theology school; so we moved back to Pennsylvania."

Living happily with less.

"I started taking Social Security at age 62. I would have gotten more money if I'd waited, but there are advantages to taking it early. I have a 401(k). I couldn't stand watching what was happening to it, so I moved it into a CD. If I were younger, I might have let it stay. But not at this age.

"We've become very economical. We don't need much to live happily. I'm packing to move for the second time in six months. I look at something and ask, "Have I used this?" When I left Phoenix, if I hadn't used it, I sold it. I'm doing that again."

Take the Next Step.

We thank Karin for sharing what worked for her. Her words have been edited. The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. Examples provided are for illustrative purposes only and not intended to be predictive of future results.

The types of financial transactions mentioned may not be suitable for everyone. Each investor needs to review a transaction for his or her own particular situation. Data contained here is obtained from what are considered reliable sources; however, its accuracy, completeness, or reliability cannot be guaranteed.

All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Examples provided,
including statistical simulations, are provided for illustrative purposes only and are not intended to imply future results you should expect to see. Past performance is no guarantee of future results.